Original article by Dorothy GAITER, Staff Reporter of THE WALL STREET JOURNAL. Synopsis of article posted for research purposes only. Copyright, 1995 by Creative Investment.
The article pointed out that following the Los Angeles riots, many church groups increased their investments in the inner cities. The article cites the efforts of Creative Investment Research in assisting one national church group, the Episcopal Church of the United States.
The Church, in an effort to be more careful about urban investing, hired Creative Investment Research to review the financial and social performance of minority-owned banks.
We conducted our review based "on several factors, including the number and size of their inner-city loans and their borrowers' repayment rates." The Church, based on our research, "added two minority owned banks there to the 26 minority owned and women-owned banks across the country where it already had decided to deposit $100,000 apiece earlier this year." Creative Investment selected the 26 other minority owned banks, too. By using our research, the Church indicated it was "casting a sharper eye than ever on the bottom line: getting tangible(social and financial) results."
